feasibility is really just that. it's an early look at determining whether a project is feasible. it's not a determination whether it's advisable. it doesn't seek to how lucrative or costly the project maybe. it's a gate keeping measure to ensure the city doesn't spend a lot on pre-development cost on a project that is not feasible. in this case that is being borne by the warriors and not subject to reimbursement from the proposal and staff cost and ceqa costs. sorry let me go back. fiscal feasibility has five components which are

listed here. so the summary of the fiscal feasibility analysis findings is that the project would generate direct and indirect economic benefits of about $19 million annually and $53,000,000.01 time in city fees. the visitors spending is approximately $60 million a year and there would be 2600 construction jobs and 1700 permanent jobs and those jobs are job year equivalent that created -- construction jobs during the three year construction time frame and those are permanent ongoing jobs that would be supported by the project. project funding we just described the basic

structure. okay. for the operation and maintenance cost -- the warriors are going to assume all responsibility for the costs associated with sea wall lot 330 and pier 30-32 and an early look at departmental expenditures the fire department and rec and park anticipate no fiscal imprakts from the project and we work with the police and mta and cost of impact and on going cost in order to service this new development. there is proposed use of public debt. the city may bond against the revenues for the project for improvement for the public infrastructure but the bonds don't obligate them. they're

secured by the development that is on the site. so in today's action what we're asking the port to do is amend the exclusive negotiating agreement which is the framework for negotiating the transaction between the port and the warriors. we ask that you have benchmarks for the framework and extend the date to endorse the term sheet. one of the concerns we heard from the public this is moving quickly and they want to understand the overall structure of this deal. we think pushing these dates back to a target date of february 15 and performance date of april 15 gives the time to work with the cac, interested stakeholders, you and the board of supervisors in order to create a robust sheet that answers many of the questions that have been raised so with they am happy -- so

with that i would like to introduce rick welts and have just frame the project a little bit for us all. >> thank you jenn. thank you commissioners, port staff. my only role here today is express the commitment and enthusiasm of the warriors organization for the success of this project. i could do that in about 90 minutes but thinking you might not be interested in that i have short bullets i will run through in three. i think first and foremost we are excited to be part of the solution to piers 30-32. as you know over two decades four proposals that were deep pocketed for this site. we are committed to making this one work and restoring the san francisco water use for use by all bay area residents. i think what is also important to you

we believe that the project as presented will ensure new and ongoing maritime activity on all three sides of the pier site. certainly we have talked about the san francisco fire department, fire station, fire boat berths, water taxis, ferry service, guest docks and my personal favorite human powered craft, that will be operating on the south side of the pier. we have a very special interest in creating the best arena ever envisioned as a entertainment and sports facility that will be the home for warrior fans. they're amazing group and show up in thick and thin and mostly thin in the last 20 years that we're trying to change and this will set the course for a very successful franchise that we can all embrace for the next 50

years for the warriors. one of the things that always amazed me from a distance is the fact that san francisco has never had a world class multi-purpose arena. there's no city half itself size in america that doesn't have this and as a result many world class acts bypass san francisco. we will now have a place for the family shows, those concerts and performances and to date we haven't had a location for. one of our mostarden supporters and the san francisco convention bureau, sf travel. they see this project as filling a distinct void in the city's portfolio thattee can make available for conventions and meetings and events in our city. very important. we will make a

promise with jobs and 1700 permanent positions and over 4,000 other jobs and aggressive hiring and business commitments new economic engine for this part of our city. we will create massive economic benefits. jenn just ran through those. 10 to 20 million annual direct tax few revenue to the city. over $50 million of one time impact fees and 60 million annually in new visitor spending. all of that again without any money from the city's general fund or any new taxes and last but not least we want to use this arena as an engineer to create a great new public space in san francisco. i know one of the great reactions we have gotten to the describe that they presented to you earlier and maybe to the surprise of many that over half of the 13 acres of the piers

30-32 site will be dedicated to public spaces that every citizen can enjoy. we're excited about it. i am happy to share the other 85 minutes of my enthusiasm with you at any time you're interested but thank you for your time today. >> okay. time for public comment. and for those that haven't been here if you could put your speaker card and give it to the commission secretary as you come up. please identify yourself. the first person is katie ladel -- >> excuse me commissioner. we need a motion first. >> so moved. >> second. >> now we will have public comment. >> okay. thank you. good afternoon commissioners. i am the chair

of the cac and i'm not speaking on behalf of them because i don't know them all. that's i didn't am here. jennifer gave us the feasibility report on the 16th but we didn't get a chance talk about it. in fact we have never had a chance to talk about anything and that's the problem. we have had three meetings and long and mainly presentations that we listen and there is public comment and a few cac comments and we all go home, so this morning i went to the cac annual breakfast hoping to meet other members just because i don't know them so we haven't had a chance to chat and discuss the fiscal feasibility study. i invited them to a meeting on sunday and being a bad day and

six of us showed up, but we need time to look at this fiscal feasibility study. some of us that have met have issues. we have questions. we would like to get together as a group, discuss the study, come up with questions at one meeting and have jennifer and maybe some other people come back at a second meeting and answer our questions so some of this will send out an email to all of you and the mayor and the board of supervisors asking for a 30 to 60 day extension so that we can actually have a cac meeting and talk to each other. thank you very much. >> jeffrey and after dennis mackenzie so we can expedite. >> good afternoon commissioners. i am a resident in the area and on the board of directors for court side 38 bryant. leslie

katz long time no see. congratulations on your appointment. any of you get whiplash? i know i did. this is a break neck project in san francisco and i have never seen this. the giants took two years to build their place and it paid off. this is a lot of money coming from hollywood to muscle their way into our neighborhood and i want to say that clearly, and this neighborhood is a 5 billion-dollar investment in san francisco with 6,000 residential units and more on the way. you all know that. i was a big booster for the cruise terminal and i thought it was going to be a huge addition to san francisco and so did our neighborhood and we worked out solutions to complex issues. this has a lot of complex issues and absolutely no solutions. a

lot of eye candy is what i see. okay. eye candy, smoke and mirrors, hollywood. what we need is a comprehensive discussion with the neighborhood, the cac -- not marginalizing the cac. these people do a lot of volunteer work. they're stakeholders. we're all stakeholders. we purchased our homes there. we plan to live there. we plan to live there with our neighbors. we don't believe that this project if it's left undiscussed, not vetted correctly will work. it won't function. it won't fit in the neighborhood and i think we need that clear dialogue. we need participation and i echo what katie has said and i think you owe it to the community to delay this and delay a decision on this as requested. thank you. >> dennis mackenzie and after

that corine woods. >> thank you commissioners, director and everybody. i am dennis mackenzie with diamond consult ag and education and a know san francisco public high school teacher for 11 years. i provided everyone in the city and officials and mayor and the commission here my proposal to include a high school classroom inside the basketball arena and today i have been delivering update on another phase of my proposal many years ago because i believe that this facility can provide some guidance and leadership in our country in order to establish a model arena where i believe all sports institutions and industries can incorporate the need for our high school and college age students to be included in these processes. these facilities i believe are inherently educational methodologies which i have been studying and writing about for 30 years. i provided

a letter today that expresses one example that can manifest in the next few years. that is developing cross cultural education program for example which would include the experience of high school, college and business leaders, government from all our americas for example, central america, mexico, south america. these programs could introduce cross cultural knowledge and international relationships in a positive powerful way for our students in this country and these other countries to visit here to join this city and experience this incredible potential facility that it once again would be a model for the sports arenas in the future that would include education because i believe it's imperative that we do that and for the benefit

of the public who have not heard me speak my proposal is on my website and i will include this latest letter on my website and i wish everyone well. >> okay. next up is corine woods and michael ginter. >> good afternoon commissioners my name is corine woods. i'm an alternate to the new arena cac and also serve on several other advisory groups around waterfront issues. i wanted to echo katie ladel's comment which is that we had a lot of information, a lot of documents to read. i'm sure you have read them all, especially the fiscal feasibility study and all four appendices. it took me a

couple of days even to download it. this is going too fast. the cac was supposed to believe able to advise city about how we felt about this project. we haven't had that opportunity. the cac meetings have been essentially information dumps without the ability to discuss and ask questions. we have had the opportunity directly with jennifer mattes and other staff people to ask questions but we haven't necessarily gotten answers, and we think it would be better if you're going to postpone, and thank you for postponing the term sheet. if we could have that opportunity before any of these documents get approved. the fiscal feasibility study leads into the term sheet. i can't see how this is a good deal for the

board. you're losing all the revenue that you're getting from the parking lots. you're losing ought the revenue you're getting from rent, and while jennifer thinks that 13% is appropriate we have a lot of questions about that, and we would like the cac to be able to ask those questions and get answers, and then on an informed basis come back to you with our recommendations. thank you. >> okay. michael ginter. >> good afternoon. i am michael ginter, member of operation engineers local three, a union here in san francisco. i would like to say this is a great project. an enhancement of the waterfront. we have over 400 members in our union who are out of work right now. they're losing their homes and health

insurance. they need this job to protect their future. it would create jobs for everybody in the city. it's a win-win situation. it's a great addition to the city and it would give jobs to the residents also. thank you. >> okay. mr. chen and after that raishiel shay. >> good afternoon commissioners. good afternoon everyone. i am a member of chinese citizen alliance and i am here to speak on behalf of the proposed project. i live in san francisco for many years and i think it's important for san francisco to have its own basketball team and i remember and i know golden state warriors was once part of san francisco and i think it's time to them back to san francisco and i believe this is a good use of the portland and otherwise the

land would be unused and good for business and in the area and give our city more revenues and tax dollars for the services that we need and i hope that you will support this project and thank you. >> rachel o shay and henry -- i am sorry if i butchered your name. >> hello commissioners. [inaudible] basketball but this project is much more than basketball. [inaudible] culturally. right now chinese pop star who come to the bay area like ya ming. he cannot come to san francisco. he must go to oakland or san jose. i

would like san francisco to have the same opportunity that the other cities do have the type of music and culturally that make the city so great. it is the best place we can celebrate the diversity of san francisco. please support this project. thank you. >> thank you. henry and after henry ja hol. >> evening commissioners. i am the president of the san francisco council district merchant associations. we have a golden opportunity to have the warriors move back to san francisco. for years the pier have been deteriorating and not able to rehabilitate them. i look forward to seeing the warriors return to san francisco. not only will the piers be belltated and we will

have an awesome arena and not only be for playing basketball but also for the performing arts. there have been a lot of talk about the traffic and what effect it's going to have in the neighborhood. i can tell you a couple of things about people driving and so forth. i have a daughter who is 22 year's old. commissioners she doesn't have a license. she doesn't drive. she takes the bus everywhere. i thought oh geez she must be the only one and not the case and i talked to other people and the young generation don't want to drive. they're happy to take the bus or go with friends and then also for small businesses what we're looking at -- not everybody will come to the arean just for a show. a lot of people like to explore. i travel frequently around the world and i will rent a car if i want to go out of town but in

town i take public transport. i was in seattle and i loved it and up to the japan town and chinatown areas and i had a great time and i do that all the time. i think it's a great opportunity to have the arena here and it's going to be a landmark and like sidney has at the opera house and i recall people said it was going to be a waste of money and now it's the first thing you think of sidney and i look forward to this arkts reina being built. >> okay. >> hello. >> can i be his translator?

>> yes. >> [speaking foreign language] >> i hope that we can lower the price of the arena tickets so we serve the community of low income. >> [speaking foreign language] >> i was also hoping -- i was also hoping games could be arranged on weekends than weekdays and more people can go on saturdays and sundays and thank you. >> thank you. >> and after that charlie liker. >> good afternoon. i am a

member of chinese [inaudible] and i am speaking in support of the project. i believe it is good to have more open space around the water so people can exercise like thai chi and also for seniors to rest in the place and this is very good and without this project they will be on [inaudible] to use this space so i think this is very important for the city to do, and i hope that you will support moving it. thank you. >> thank you. and after charlie we have paula kinderalcoholic. >> good evening. >> >>i am here today and we have been doing a survey and i am

here more or less as information to you. in the bay area they have -- in particular in san francisco, you have at&t park. they build a football stadium. you have candlestick park. let me tell you all something. i am amazed but not a mused by it. there is not one african-american that own a concession in no park in the bay area, not one. and they are building these stadiums and this accounts for how black people have been driven out of the city of san francisco. when i went into the construction business there was 152 african-americans in the construction business. now there are only five and most people will say "how the hell about that happen?" it was simple and very easy. we figured it out. they don't pay

them on time. they don't own concessions. they always had circuses and black people in the circus and the so-called "n" word with a ball in his hand, a gladiator or something. we have them on the field but we don't have african-americans in business and doesn't matter what you say you can't dispute what i am saying. i done a survey for two years. not one black person own a concession in any of these stadiums from oakland to san francisco, from san francisco to los angeles. i am a disabled american veteran. some of these wow wards in the room wouldn't fight for the luxury that they receive but i was in the air force. >> >> i was in two plane crashes.

i came back home. my grandson is a lieutenant in the army today and i am saying there is something wrong and you can't say it's not wrong with the basic way the country -- i don't care if there is a black president. and it hasn't changed and particularly san francisco and the most dick on the racist town in. >> >> and if you don't believe it it's the highest amount of people put in jail is blacks in san francisco so there is wrong with the way the system is being administered and the ex-slaves and how they're still treated in 2012 and i am going to ask you. do not build a stadium or nothing in this city until you get the ground rules straight.

can blacks have a concession in the stadium? can they work in the construction industry? that's all i'm talking about. if we can fight for this country and die for this country we're entitled to everything and this is not doing it. >> okay. paula and after paul emanuel florez. >> good afternoon commissioners. my name is paula and i am here because i'm very disturbed about the aggressive schedule that's been happening with this particular project, and the warriors development group. i'm a neighbor. i live on brandon street. i am very concerned about the traffic, the public safety, the access to emergency services with this project. in

addition to the giants. we're talking about 250 -- 300 days a year we have increased the population in this area. we're already extremely dense laitded populating with citizens of san francisco and i think the project itself looks lovely. i just don't think this is where it needs to be. there are plenty of places to put this without putting it one of the most densely populated areas. when the giants are in town we're in lock down. we can't take muni as is suggested. you can wait for three trains before you can load on like a can of sardines. it just doesn't work and i am very interested -- i mean very concerned about the